Bench: S.SUJATHA,RAVI V HOSMANI
disallowed the same holding that the assessee had not established the nexus for utilization of the funds raised in FNCR are used for the business purposes. It was assumed by the Assessing Officer that the loan had been used for certain investments into share capital of various companies. The same has been confirmed by the CIT - 10 - (A). The Tribunal